RE: RE: Hey QM45 Hi ruminating:
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I have enjoyed reading your posts. If you read MLG's management report, dated September 30, 2011, they have already discussed the lower production rates for 2011, it is no secret. On page 3 under objectives:
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"The Company produced 13,302 MTU‘s in the current quarter. The plant has a production capacity of 500 tpd but the mine has been bottleneck producing up to 350 tpd. Actual production amounts to 43,868 MTU for the nine-month period ended September 30, 2011. The annual production estimate will remain between 60,000 and 65,000 MTU‘s...Net income amounted to $4.4M for the nine-month period ended September 30, 2011. The Company expects to maintain profitability for the remainder of the year."
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Furthermore, the 2010 annual report shows sales volume for that year was about 70,000 MTU, company spokesperson now states that for 2011 preliminary estimates are about 60,000 MTU. So nothing like all those articles from that one website are saying, and that needs to be looked into. MLG is a company in transition and management is taking all the necessary steps to lead it to the next level. That being said, the motivation behind QM45's first ever post on SH, and the way it was presented, is crystal clear.
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Regards,
Simply